Safaricom to Further Expand M-Pesa

Kenya-based mobile operator Safaricom entered discussions with five companies to increase the availability of M-Pesa services, according to a local press report.

In an interview with Kenyan newspaper The Standard, Safaricom CEO Bob Collymore outlined the provider’s plan to increase the scope of the company’s successful mobile money platform by partnering with five new companies.

He declined to name the service providers in question, but stated the deals were likely to be closed within the next 12 months. Collymore (pictured at one of the company’s sales outlets) said Safaricom wanted to “deepen financial inclusion” in the country and would sign mutually beneficial agreements to increase the reach of M-Pesa.